Wealth Alliance Lowers Holdings in Primerica, Inc. (NYSE:PRI)

Wealth Alliance decreased its holdings in Primerica, Inc. (NYSE:PRI) by 17.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,316 shares of the financial services provider’s stock after selling 282 shares during the period. Wealth Alliance’s holdings in Primerica were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PRI. Arlington Trust Co LLC bought a new position in Primerica in the third quarter worth approximately $25,000. LWM Advisory Services LLC acquired a new position in shares of Primerica during the third quarter worth $26,000. ORG Partners LLC acquired a new position in shares of Primerica during the fourth quarter worth $26,000. Covestor Ltd increased its position in shares of Primerica by 74.7% during the first quarter. Covestor Ltd now owns 255 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Primerica during the fourth quarter worth $38,000. Institutional investors own 90.88% of the company’s stock.

Primerica Stock Performance

Shares of PRI opened at $210.20 on Friday. The business’s 50-day moving average is $243.69 and its two-hundred day moving average is $221.63. The company has a market capitalization of $7.29 billion, a P/E ratio of 13.24 and a beta of 1.06. Primerica, Inc. has a fifty-two week low of $173.00 and a fifty-two week high of $256.56.

Primerica (NYSE:PRI) last announced its quarterly earnings results on Tuesday, February 13th. The financial services provider reported $4.25 earnings per share for the quarter, missing the consensus estimate of $4.27 by ($0.02). The company had revenue of $726.34 million for the quarter, compared to analyst estimates of $723.64 million. Primerica had a return on equity of 27.83% and a net margin of 20.37%. Primerica’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.49 earnings per share. Analysts forecast that Primerica, Inc. will post 17.78 EPS for the current year.

Primerica Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Primerica’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. Primerica’s dividend payout ratio (DPR) is 18.89%.

Insider Activity

In other news, President Peter W. Schneider sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total transaction of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Peter W. Schneider sold 1,500 shares of Primerica stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $243.41, for a total value of $365,115.00. Following the sale, the president now directly owns 13,259 shares in the company, valued at approximately $3,227,373.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $249.81, for a total value of $58,455.54. Following the completion of the sale, the insider now owns 100 shares in the company, valued at $24,981. The disclosure for this sale can be found here. Insiders have sold 6,708 shares of company stock worth $1,648,677 in the last ninety days. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PRI. Keefe, Bruyette & Woods upped their target price on Primerica from $255.00 to $260.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. StockNews.com raised Primerica from a “hold” rating to a “buy” rating in a research report on Thursday, March 7th. Truist Financial upped their target price on Primerica from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Raymond James downgraded Primerica from a “strong-buy” rating to a “market perform” rating in a research report on Monday, February 12th. Finally, Morgan Stanley increased their price target on Primerica from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Primerica presently has a consensus rating of “Hold” and a consensus target price of $245.50.

Primerica Profile

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.